Independent Living Market Study
A well-researched Assisted Living Market Study for independent living facilities is a must-have tool that can help developers and independent living managers make the right decisions for building or expanding their facilities and take advantage of opportunities within continuum of care.
At Senior Consulting, LLC we recommend commissioning an analysis as early in the project development as possible, as the results can shape and direct choices ranging from site location to interior design to marketing.
An Assisted Living Market Study, also known as a feasibility study, works to analyze your competition and current market demand for additional services, such as assisted living or dementia care.
An Assisted Living Feasibility Study focuses on analyzing your facility’s local market: how many people are in your area? Who is part of the target demographic? What are the defining economic and age characteristics of your target market? It also attends to the competition in your area: how much are they charging? What are their differentiating points? What’s their current occupancy? What’s the current market penetration in your area? As part of the market study, we will mystery shop all of the identified competitors, both on the phone and in person, to get as much information as possible.
Unlike other companies, Senior Consulting, LLC, doesn’t simply draw a circle around your facility and analyze everything within it: we carefully examine your geographic region and craft a custom service area that takes influencing factors, such as consumer draw and common travel, into account. The result is a much more specific and accurate look at your market and competition
Our Assisted Living Market Study will provide your independent living facility with recommendations, upgrades, and plan adjustments so that it can expand can provide extra levels of care, thus differentiating it from the competition.